Connect with us

Hi, what are you looking for?


Broadcom Q1 earnings: here’s why Stephanie Link likes this stock

buy broadcom stock on q1 earnings

Broadcom Inc (NASDAQ: AVGO), on Thursday, reported market-beating results for its fiscal first quarter and issued upbeat future guidance. Shares are still dull in extended hours.

Pro shares her view on Broadcom stock

For its current quarter, the semiconductor behemoth now forecasts about $8.70 billion in revenue. That’s well above $8.58 billion that analysts had anticipated.

Broadcom refrained from offering guidance for the full year. Still, on CNBC’s “Closing Bell”, Hightower’s Stephanie Link said:

Not only do I like their mix in terms of their semiconductor revenue at 80% of total revenue, they also have a software component as well which is 20%. I think you’ll see better recurring revenue within software over time.

Her bullish view is in line with Wall Street that also currently has a consensus “buy” rating on Broadcom stock.

Broadcom’s first-quarter earnings snapshot

  • Earned $3.77 billion versus the year-ago $2.47 billion
  • Per-share earnings also climbed from $5.59 to $8.80
  • Sales jumped nearly 16% year-on-year to $8.91 billion
  • Adjusted EPS printed at $10.33 as per the press release
  • Consensus was $10.17 a share on $8.9 billion in revenue

Other notable figures in the earnings print

Other notable figures in the earnings report include $7.11 billion in chip sales (better than expected) and $1.81 billion in software sales (lower than expected). Link added:

They have $31 billion in backlog, stock has massively lagged, trades at 14 times, there’s a 3.0% yield and they’re generating $16 billion in FCF a year. They increased dividend last quarter, buying back stock, so I like Broadcom stock.

For the year, this semiconductor stock is up 8.0% at writing.

The post Broadcom Q1 earnings: here’s why Stephanie Link likes this stock appeared first on Invezz.

You May Also Like


Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...


Mimiq, Inc is announcing today the launch of their new product, Mimiq Track, at CES as part of their latest product line to operate...


On this week’s edition of Stock Talk with Joe Rabil, Joe looks at the longer-term picture for stocks like AAPL, TSLA, and more. He...

Latest News

Kevin McCarthy’s difficult road to becoming House speaker ended early Saturday morning after Republicans appeared to have miscounted the number of votes they needed...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023